OKLAHOMA'S ECONOMIC STRENGTHS, CHALLENGES OUTLINED

OKLAHOMA CITY — Oklahoma has a lot going for it in 2011, despite some economic challenges, according to a new report released by the Office of State Finance.

The first annual "Report to Our Citizens," compiled under the direction of State Comptroller Brenda Bolander, outlines facts and figures about the Oklahoma economy and state government finances.

Accomplishments listed in the report for 2010 are voter approval of a constitutional amendment to bolster the state’s Rainy Day Fund and the national recognition Oklahoma City and Tulsa received for improved infrastructure, livability and prospects for job growth.

The report makes mention of the drain on the Rainy Day Fund since 2009, when a period of economic expansion ended, and referred to prospects for disruption of state services if federal funds going to Oklahoma are reduced after a decade of increases.

The 4-page report is complete with several graphs and charts for easy access to economic, financial and demographic data.

"We wanted to give citizens concise information about the status of government finances, including concerns related to our pension fund liabilities and other challenges," Bolander said.

Goals of state policymakers are contained in the report, as well as references to Gov. Mary Fallin’s budget initiatives and her "Roadmap to Prosperity" document.

The Office of State Finance is responsible for producing the Governor’s Executive Budget and the Comprehensive Annual Financial Report, partnering in the implementation of the State of Oklahoma’s Integrated Central Financial System (CORE) and managing OK.gov, the state’s Internet portal.

For decades, the OSF has also generated the official General Revenue Fund report, a broad-based report using Oklahoma Tax Commission figures and data from other sources. The GRF is the principal source of funding for most government agencies and programs.